RxEAL is a platform for trustless and safe security deposit storage on the Ethereum is blockchain. It provides decentralized dispute resolution with the main focus on real estate and automotive rental markets valued at hundreds of billions USD combined. RxEAL will also be available for other industries that demand trustless fund storage and fair dispute resolution.
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Proof of Concept
RxEAL has all the potential to become a one-stop-solution for security deposit transactions in ever growing rental markets. By solving the issue of trust, RxEAL are providing added value for all involved parties, therefore our service results in a valuable improvement for the world’s largest markets.More people than ever before are involved in real estate, car and other rental transactions. Favourable conditions for travellers, emerging economies and the increasing flow of human resources across borders are causing a rapid growth in the number of transactions. Parties involved in rental transactions agree on certain terms such as the length of the agreement, the initial condition of the property, the rental price and the sum of the security deposit. Despite the fact that the negotiated terms are placed within the contract, a significant number of disputes occur afterwards.
Real estate and car rental are among the largest business industries in world generating hundreds of billions of US Dollars in turnover.People are in constant need of finding
the right place to live, work and travel, thus, creating a regular demand for real estate properties and car rental services that are the most popular types of rental transactions in the world.The latest market trends show that people are more inclined to rent real estate, cars or other assets rather than to buy them.
This model provides competitive pricing for clients and ensures efficient function and the profitability of the company, while at the same time providing a financial initiative for the
arbitrators. As an example, an arbitrator working 8 hours per day and reviewing one for
dispute every 30 minutes can earn RXL tokens equivalent to 60 USD daily. The base pricing model proposal is lessor oriented where lessors use the RXL to pay for the service. RxEAL believe that our service provides a competitive advantage to lessors by allowing to offer the product to lessees who are seeking faster transactions and protection from unfair security deposit withholding, therefore lessees are more likely to choose lessor’s rental product, while lessors would be willing to pay a small premium fee for such service.
Ether Based Deposits
- 2 ETH initially worth $600 are deposited into the smart contract. During the course of the contract the ETH value increases by 40% against USD – 2 ETH now worth $840 are distributed back.
- 2 ETH initially worth $600 are deposited into the smart contract. During the course of the contract the ETH value decreases by 10% – 2 ETH now worth $540 are distributed back. Though ETH value has decreased, the amount of ETH returned does not change.
Security and Privacy
Security is a major concern of every internet project involving personal or financial information. In addition to being built on the Ethereum network and utilizing ERC20 standard token, the RxEAL platform implements careful security measures for complete
customer confidence.The main security benefit arises from the operating principle of the
RxEAL platform. RxEAL is an interface designed to create and deploy smart contracts; RxEAL do not store deposits nor do we have any access to the funds kept in the smart contracts. This approach negates the incentives for hackers as there is no direct benefit from gaining control of the user account.
Given the fact that the RXL token is a utility token and its purpose is the use of RxEAL services, RxEAL strongly believe that listing tokens on exchanges prior to service release will lead to token value depreciation. Considering this, it will be listing RXL on exchanges
when we have the product on the market but no later than 3 months starting from the token sale completion.To benefit the RxEAL ecosystem, RxEAL will be working towards listing RXL on major exchanges that are able to provide large trading volumes and continuous liquidity.
Business Development Strategy
In order to ensure the successful development of the RxEAL platform and to attract new users, RxEAL will create partnership agreements with companies whose business specifics
require safe deposit storage and a fair dispute resolution process including,but not limited to, real estate agencies, property development companies and car rental companies. The Additionally, RxEAL plan to join official communities operating in real estate, car rental and
other fields whose goal is to protect the rights of their members.
Dmitrijs Orlovs CO-FOUNDER/ BUSINESS STRATEGY & MARKETING
Aleksandrs Puzdrans CO-FOUNDER/ TECHNOLOGY & OPERATIONS
Janis Dabols CO-FOUNDER/ LEGAL & FINANCE
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